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Fidelity Got Green Light To Become The First Institutional Bitcoin Custodian In Canada
Summary: According to The Globe and Mail, Fidelity Clearing Canada, a subsidiary of fund giant Fidelity, has been approved to become Canada’s first institutional Bitcoin custodian. The Investment Industry Regulatory Organization of Canada (IIROC) approved it to launch a Bitcoin trading and custody platform for institutional clients such as pension funds, portfolio managers, mutual funds, and exchange-traded ...
According to The Globe and Mail, Fidelity Clearing Canada, a subsidiary of fund giant Fidelity, has been approved to become Canada’s first institutional Bitcoin custodian.
The Investment Industry Regulatory Organization of Canada (IIROC) approved it to launch a Bitcoin trading and custody platform for institutional clients such as pension funds, portfolio managers, mutual funds, and exchange-traded funds (ETFs) who seeking direct access to Bitcoin.
Many Bitcoin funds currently operating in Canada use US custody companies, and Fidelity will pave the way for more institutional investors to directly purchase Bitcoin.
According to the report, Fidelity Clearing Canada provides services to more than 100 investment companies in Canada. As of June 30, it has more than $222 billion in assets under management together with Fidelity Investments Canada ULC. Earlier this week, Fidelity Investments Canada filed a preliminary prospectus to launch a Bitcoin ETF and Bitcoin mutual fund.
By Mary Liu
Tags: Canada,custodian,Fidelity,Fidelity Clearing Canada
Link: Fidelity Got Green Light To Become The First Institutional Bitcoin Custodian In Canada [Copy]
